According to a recent research result, the global market value of automotive coatings in 2018 exceeded 16 billion US dollars, and the annual compound growth rate was 8% in 2025. The future market growth rate will remain high. In recent years, consumers'demands on automobile appearance have become more and more diverse and fashionable, which stimulates the development of automobile paint market. In addition, the abundant automotive appearance color, tone and coating solutions have brought great development potential to the automotive paint market. For this reason, many manufacturers continue to develop and innovate, upgrade the technological level, and introduce high cost-effective coatings products. In the next few years, the production of buses and commercial buses will be the main factors to increase the demand for automotive coatings. In addition, the urbanization process, the improvement of purchasing power and the individualized demand for color will also be important factors to stimulate the development of the market. In recent years, the development of painting technology has further improved the appearance of automobiles, while meeting the requirements of environmental protection. The improvement and innovation of painting process effectively improve painting efficiency and reduce overspraying. In addition, the application of intelligent coatings improves the durability of coatings, endows the coatings with super-high hydrophobicity and seismic resistance. Self-stratified automotive coatings make the coating process more economical, and further reduce the failure of adhesion of intermediate coatings. In automobile repair and maintenance, these demands are increasing year by year, which promotes the development of automobile paint market. The data show that the economic and practical consumption concept has promoted the demand for used cars to continue to rise, which has also brought a positive boost to the repairing paint market. Many companies increase their investment to enter the market and seize more market share.
In recent years, environmental protection policies have increasingly stringent requirements on VOC emission regulations, which has promoted the application of environmentally friendly coatings. The automotive coatings market is also facing opportunities and challenges.
From the point of view of vehicle types, the demand for heavy commercial vehicles continues to increase, which is due to the increase of freight volume and trade activities. Automotive paint manufacturers provide a variety of professional solutions for commercial vehicles to improve curing rate and coating efficiency. The types of passenger buses are abundant and the demand for high-quality coatings is increasing, so as to improve the ultraviolet resistance, acid resistance and heat resistance of the vehicles. These technological improvements are one of the factors that keep the output of passenger buses growing.
From the point of view of coating system, high-grade automotive topcoat has very high requirements for appearance and gloss performance, and scratch resistance and temperature resistance are also the development direction of automotive coatings. Electrophoretic primers give excellent corrosion resistance to substrates, and their excellent swimming penetration and low temperature curing properties are the remarkable development of electrophoretic paints. In addition, its ultra-low VOC content is also a major environmental advantage. Paint manufacturers are also stepping up research and development to provide a variety of electrophoretic paints to meet the different needs of users.
From the point of view of technology research and development, the increasing pressure of environmental protection promotes the automotive paint manufacturers to continue to intensify their efforts in water-borne coatings. With the gradual improvement and application of water-borne technology, the properties of coatings have been improved in chemical resistance and low temperature curing process. Powder coatings are favored by users because of their advantages in film thickness control technology and film thickness adjustment technology. In addition, it also has good cost performance, construction, environmental protection and so on. From the point of view of raw materials, the application of aluminium powder pigments in metallic flash paints gives the coatings a good angular heterochromatic effect. Moreover, due to the application of special effect pigments, it has a higher powder orientation effect, combined with excellent viscoelastic properties, which makes the texture of the coatings unique. The research points out that the application of metal primer in sports cars shows personality and consumer preferences, and this trend is becoming more and more obvious. In addition, for rough texture and non-reflective appearance of automotive exterior decoration is an important factor in automotive design. For some new automotive styles, many paint manufacturers provide matte finish.
In the next few years, OEM coatings will continue to be in strong demand due to people's increasingly high requirements for ride comfort, aesthetics and functionality of automobiles. The improvement of durability, corrosion resistance and spraying technology will further promote the development of OEM coatings market. In addition, the automotive repair service industry has a significant impact on the automotive paint market. Polyurethane coatings are widely used because of their excellent mechanical properties, solvent resistance, weatherability and room temperature curing properties. In the field of automotive repairing paint, polyurethane coatings have more abundant color system and texture schemes. Epoxy resin is excellent in adhesion and wear resistance of metal substrates, which makes epoxy coatings widely used in more complex components.
From the market area, the European automotive paint market has a good development potential because of its strong manufacturing industry foundation. As purchasing power continues to rise in the Asia-Pacific region, the form of the automotive paint market is good. Moreover, some benchmarking enterprises have set up production bases in China, which is more conducive to the development of regional markets. From the manufacturer's point of view, the market competition of automotive coatings is fierce. Major manufacturers include BASF, Asher, KCC Group, DuPont, PPG, Akzo Nobel, Cosco Founder and Founding State.
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